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LA Times: Billionaires to Push Tax Proposal
Google CEO Eric Schmidt
A bipartisan group of California billionaires and prominent politicos -- yes, think the 1 percent -- are trying to put a initiative on the June ballot to "reshuffle" the state's tax code and boost revenue by $10 billion, according to the Los Angeles Times.
There's not a whole lot of specifics right now, but the group -- consisting the likes of Google CEO Eric Schmidt, former Governors Arnold Schwarzenegger and Gray Davis, and LA philanthropist Eli Broad -- want to lower personal income and sales taxes for families at the bottom of tax heap. And who gets the short end of the stick?
Lawyers and accountants!
The group, called the Think Long Committee wants to levy more than 5 percent on legal and accounting work -- which is currently not taxed -- while "significantly" lowering the burden for "some" lower-income families.
Some details, from Anthony York at the Times: "Under their proposal, families earning up to $45,000 a year would pay no state income tax, while those making up to $95,000 annually would pay 2%. This would lower some taxpayers' obligations significantly.
"The group also wants to double the current exemption for homeowners and renters on their state income tax and eliminate most other California income tax credits."
Gerry Shih covers government and politics for The Bay Citizen. He previously worked at The New York Times. He was born in Palo Alto, caused mischief at Henry Haight Elementary in Alameda and finagled an ...
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Philip Waterhouse
This sounds like a good start and a move in the right direction let's see how this actually turns out
aml_reads
will these plutocrats be paying more? will the corporations that they control continue to receive prop 13 exemptions? if not, then this is all smoke and mirrors to sock it to the rest of us.
Mike Rothman
I'm thankful that this group is giving serious thought to increasing revenue for the state. While I agree that we need to see the details, perhaps they are onto something.
nandro n
This is a gem of a tax proposal. Lower the top personal income tax rate from 9.3% to 7% and in its place add a sales tax on services of almost 9%. If this isn't a tax cut for the rich and a tax increase for the rest of us, I don't know what is...
Peter Cao
Eric Schmidt could show off his importance on his appearance with heavyweighters, but in the long run, no one else but only by himself could clarify his name in these anti-humanity crimes.
Google's era under Eric Schmidt had involved into multiple crimes in Stanford which is fascism by
nature.
Google's Eric Schmidt had abused google resources to financially and politicially support a criminal suspect named Gabriele Scheler, along with a Stanford Computer Science faculty Sebastian Thrun, against ruling from Stanford and police authorities. During their fight with Stanford, Eric Schmidt's side had murdered an innocent Stanford student May Zhou in 2007 to threaten me and to terrorize Stanford. When they found I would not compromise a bit but actively tried to clarify the case, Eric Schmidt's side did plot a murder on me as well. The only reason they didn't make it a reality is becaue they were closely watched by police and they are afraid of leaving evidence (not becasuse they have any mercy on me as a human being, fascism by nature.) Eric Schmidt lost his CEO position because of his involvment into these crimes. Proof of real names, dates, photos along with a police case number are listed in my blog link [ http://tysurl.com/BsEnQ4 ].
These accusations stand still which Eric Schmidt and Sebastian Thrun dare not deny to the public so far. Eric Schmidt and Sebastian Thrun had not paid for their crimes and they would have to.
Peter Cao
Fighting against these powerful criminals is a tough task, because anywhere this case is going, there are powers on these criminals' side to cover them up while conspiring the victim. The consequences of what Eric Schmidt and Sebastian Thrun already had done are irreparable and unforgivable. And I don’t
think Schmidt and Thrun’s side would ever regret of what they did. In my opinion, Eric Schmidt and Sebastian Thrun would have to face legal consequences and pay for their crimes sooner or later. Until these crimes clarified to the public and concurred at authorities, Eric Schmidt, Sebastian Thrun and power behind them would remain a menace to human soceity.
Can anyone take his place to help him deny his involvment into those crimes which had cost human lives? Didn't Eric Schmidt and Sebastian Thrun already get Google's name into these crimes? As long as these anti-humanity crimes not clarified, all the people invovled would continue to be haunted. I bet no one would be willing to take the responsibility to cover up crimes Eric Schmidt and Sebastian Thrun brought to our lives. All the unfortunate happening in my life in the past 7 years originated in crimes from powers behind Eric Schmidt and Sebastian Thrun's side. I would not stop public challenging as long as these crimes not clarified and concurred.